Confusion has become the most used word in the health insurance space. Below are a few answers to our most asked questions.Did you sign up for your health insurance through the government exchanges for next year? If you did not, you still have a chance. There is an extended special enrollment period. If you enroll after December 23rd but before January 15th, then you can get an effective date of February 1st. The special enrollment period ends March 30, 2013. After that, then you can only enroll with a qualifying event.

What happens if I do not purchase health insurance? You can choose to pay the penalty of $95 or 1% of income whichever is greater in 2014. In 2015, the penalty increases to 2% of income or $325 per adult whichever is greater.What if I qualify for Medi-cal but do not want it? You can purchase health insurance privately or through the exchanges but you will not get any premium assistance. What if I am in a job that changes income or I have a change in my income? If you are in the exchanges and have a change in income You will be able to report it to the exchange and they will provide more or less premium assistance accordingly. Also, if you do not report the change, then it can be fixed at tax time.Can I get health insurance from the exchange if I have Medicare? Under the federal law, there is no premium assistance from the states and one cannot purchase a Medicare supplement from that exchanges. Please consult us or any other Covered California certified agent for help with the California exchange. This educational third party article is being provided as a courtesy by Ajay Parikh and Nikesh Parikh, CFP®, J.D., LUTCF, RHU, REBC, ChFC. For additional information on topic(s) discussed please contact Ajay Parikh, Agent, CA Ins. Lic. #0672686, AR Ins. Lic.#90450 and Nikesh Parikh, CFP®, J.D., LUTCF, RHU, Agent, CA Ins. Lic.#0F79124, at 562-403-7100.